United Community Banks to sell equipment finance business; shares rise
12/06/2026 12:50
BUZZ-United Community Banks to sell equipment finance business; shares rise ** Shares of U.S. regional lender United Community Banks UCB.N rise 3% to $35.30 premarket
** Lender to sell equipment finance business, consisting of Navitas Credit Corp, for $1.9 billion to funds managed by alternative investment firm Wafra
** UCB expects the transaction to result in a one-time pre-tax earnings benefit of $109million
** Deal reflects a 7% premium to the par value of Navitas' loan portfolio, co says
** Co has a market cap of $4.1 bln, as of Thursday's close
** As of last close, UCB stock up 9.8% YTD
(Reporting by Utkarsh Hathi)
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